9190 Parkway Birmingham, AL 35206
- Retail properties
- 1,836 SF
- 0.43 lot acres
Current Use by Public Records
- One Touch Flooring / Flooring Contractor / Wood And Laminate Flooring Supplier
- T-Mobile / Cell Phone Store / Cell Phone Accessory Store
Property Details for 9190 Parkway
- Year built
- 2006
- Lot size
- 0.43 lot acres
- Property size
- 1,836 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a freestanding retail building in Birmingham, Alabama, currently occupied by a T-Mobile store under a corporate-guaranteed lease. The property boasts a strong 5.90% cap rate, generating a net operating income (NOI) of $50,484 annually. Situated on a highly visible, signalized corner lot (.43 acres) as a Super Walmart outparcel, the property benefits from exceptional traffic counts. The 1,836 square foot building, constructed in 2006 and featuring a new 2023 roof, offers minimal maintenance concerns. The lease features a remaining term of five years with two five-year extension options, each including a 10% rent increase. Ample parking is provided with 17 spaces, and a convenient enclosed dumpster pad is included. The property is zoned CB2 and offers a compelling return on investment for discerning buyers. Originally built as a Starbucks with a drive-thru, this adaptable space presents a secure and profitable investment opportunity in a prime Birmingham location. The property's strong tenant, favorable lease terms, and excellent visibility make it an ideal addition to any investment portfolio.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Birmingham
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.7015
- Latitude
- 33.5866
